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Avalanche price analysis shows the downward descent seems to have held, with price picking up some positive momentum just below the $17 mark. AVAX dropped as low as $16.52 yesterday, after declining more than 25 percent since last week from a month-long high of $21.52. Price currently sits just under the $17 mark after increasing more than 2 percent, and could form a comeback up to the $20 mark over the current trend. Avalanche currently has a market cap of $5,545,789,505 and possesses the 16th rant in the cryptocurrency market. 



The larger cryptocurrency market showed mixed results across the board over the past 24 hours, with <a href="https://www.cryptopolitan.com/bitcoin-price-forecast/?swcfpc=1">Bitcoin</a> staying at $27,500, and <a href="https://www.cryptopolitan.com/ethereum-price-prediction/?swcfpc=1">Ethereum</a> dropping 1 percent to $1,800. Among leading Altcoins, <a href="https://www.cryptopolitan.com/xrp-price-prediction/?swcfpc=1">Ripple</a> moved up to $0.46, whereas <a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Cardano</a> and <a href="https://www.cryptopolitan.com/dogecoin-price-prediction/?swcfpc=1">Dogecoin</a> stayed at yesterday&#8217;s prices of $0.38 and $0.07, respectively. Meanwhile, Polkadot upped 1 percent to move up to $5.49. 



<figure class="wp-block-image size-large"><img width="1200" height="495" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-1200x495.png" alt="Screenshot 2023 04 24 at 11.36.23 PM" class="wp-image-294838" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-1200x495.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-300x124.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-768x317.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-1536x634.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-2048x845.png 2048w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-24x10.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-36x15.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-48x20.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-24-at-11.36.23-PM-150x62.png 150w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Avalanche price analysis: Cryptocurrency heat map. Source: <a href="https://coin360.com/" rel="nofollow noopener" target="_blank">Coin360</a></figcaption></figure>



<h2 id="avalanche-price-analysis-avax-continues-to-remain-below-moving-averages-on-daily-chart">Avalanche price analysis: AVAX continues to remain below moving averages on daily chart</h2>



On the 24-hour candlestick chart for Avalanche price analysis, price can be seen forming a stabilising trend over the past 24-48 hours, after recording successive downward candlesticks since April 19. In that mean, price dropped from $21.52 to $16.5, which has seen some form of correction with AVAX moving back up to the $17 mark. However, price still remains well below the moving averages on the daily chart, as well as the important 50-day exponential moving average (EMA) at $17.82.



<figure class="wp-block-image size-large"><img loading="lazy" width="1200" height="813" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-1200x813.png" alt="AVAXUSDT 2023 04 24 23 41 24" class="wp-image-294840" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-1200x813.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-300x203.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-768x520.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-24x16.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-36x24.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-48x33.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24-150x102.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-24_23-41-24.png 1530w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Avalanche price analysis: 24-hour chart. Source: <a href="https://coinmarketcap.com/currencies/avalanche/" rel="nofollow noopener" target="_blank">Trading View</a></figcaption></figure>



The 24-hour relative strength index (RSI) continues to show low market valuation for AVAX, sitting at a lowly 42.28. Market valuation for Avalanche is expected to remain low as price gradually continues to enhance upwards with traders currently on the fence. The moving average convergence divergence (MACD) curve also continues to depict a bearish divergence, with the trend line continually sitting below the signal line. 



Disclaimer.&nbsp;The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Avalanche price analysis: AVAX looks to gain back up to $17

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